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Issue - meetings
Finance Report
Meeting: 24/09/2018 - Charity Committee (Item 7)
Additional documents:
- Finance Report 24.9.18 Appendices 1-2-3, item 7 PDF 148 KB
- Finance Report 24.9.18 Appendices 4-5-6, item 7 PDF 216 KB
Minutes:
The Chief Accountant, presented a report to advise members of the Committee on the current year's financial position and provided an opportunity to review the Trust’s business plan; risk register and reserves policy.
Councillor Rogers proposed approval of the report, which was seconded by Councillor Batsford.
RESOLVED (unanimously) that:
1. To agree the current financial position for 2018/19.
2. The Risk Register be agreed (Appendix 4)
3. The Reserves Policy be agreed (Appendix 6)
The reason for this decision was:
The Council has the responsibility for the proper management of the financial affairs of the Trust. In doing so it complies with Accounting Codes of Practice and the high standards required for the accounting of Public money.
A surplus slightly above budget expectations is anticipated for 2018/19 in respect of operating income and expenses. Once grant and project costs are taken into account a reduced deficit of £58,000 is anticipated against a budgeted deficit of £99,000.
The reserves policy is reviewed on an annual basis and is undertaken against the uncertainties that are identified within the risk register and the general economic environment.
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